Different types of media, such as, for example, television, radio and print, are used to present advertisements to consumers. The type of media and the features of advertisements, such as, for example, the duration of an advertisement in radio or television or the color of the advertisement in print, affect the price of presenting a particular advertisement in a particular medium. More specifically, in print media, the popularity of a publication may affect the price that a publisher seeks from an advertiser in exchange for publishing the advertiser's advertisement in the publication. The popularity may depend on factors including a number of copies of the print that are circulated, the frequency with which the publication is published, the target audience, and the region in which the publication is circulated.
Currently, publishers issue documents including prices for various advertisement options known as rate cards. The rate cards serve as guidelines based on which advertisers quote prices that they are willing to pay to publish their advertisements in a publisher's publication. A response from the publisher initiates a negotiation process. Typically, after multiple rounds of negotiation, the advertiser and the publisher agree upon a price. The advertiser and the publisher can negotiate via inter-connected computer systems that are operatively coupled to each other through one or more networks, such as, for example, the Internet.
In one example, the advertiser makes an offer of payment to publish an advertisement that is transmitted to the publisher. In response, the publisher either accepts the offer, or rejects and provides a counter-offer. Eventually, the advertiser and the publisher agree upon a price. Alternatively, the publisher does not publish the advertisement because the negotiating parties could not agree upon a price.